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The Majestic Star Casino, LLC Retains Goldman, Sachs & Co. to Evaluate Strategic Alternatives |
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hese alternatives may include a recapitalization, refinancing, restructuring or reorganization of the Company's obligations or a sale of some or all of its assets. |
The Majestic Star Casino, LLC (the "Company") today announced that it has engaged Goldman, Sachs & Co. ("Goldman Sachs") to act as a financial advisor. In conjunction with XRoads Solutions Group, LLC, Goldman Sachs will assist the Company with its evaluation of financial and strategic alternatives. These alternatives may include a recapitalization, refinancing, restructuring or reorganization of the Company's obligations or a sale of some or all of its assets.
Don Barden, the Company's Chairman, President and CEO, commented, "With the addition of Goldman Sachs the Company has assembled an excellent team of professionals to help assist management in developing and executing on strategies that will position the Company to maximize long-term value. Goldman Sachs is one of the premiere financial institutions in the world and we are pleased to have them as part of our team."
The Company cautions that there can be no assurance that the aforementioned evaluation will result in any specific transaction.
The Majestic Star Casino, LLC, is a multi-jurisdictional gaming company that directly owns and operates two adjacent dockside gaming facilities and hotel located in Gary, Indiana (Majestic Star and Majestic Star II), a Fitzgeralds brand casino and hotel located in Tunica, Mississippi (Fitzgeralds Casino Hotel-Tunica), and a Fitzgeralds brand casino located in Black Hawk, Colorado (Fitzgeralds Casino-Black Hawk). Additionally, Barden Development, Inc., the ultimate owner of The Majestic Star Casino, LLC, owns and operates a Fitzgeralds brand casino and hotel in Las Vegas, Nevada (Fitzgeralds Casino Hotel - Las Vegas).
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